Earlier this month, the National Free Zones Commission (CNZF) approved the establishment of seven new companies & the expansion of operations by Multimodal Marine Inc. Together, the investments total $16.1 million and will create more than 400 jobs, according to Panama’s Ministry of Trade & Industry (MICI).
The companies are from Panama 🇵🇦, the Netherlands 🇳🇱 , the United States 🇺🇸 , Venezuela 🇻🇪 , Spain 🇪🇸 , and Chile 🇨🇱 and will be located in various free trade zones, including Corozal Free Zone (formerly Marpesca), Panapark Free Zone, Albrook Free Zone, and Las Cabras Free Zone.
They are active in sectors such as manufacturing, processing of finished and semi-finished products, assembly, logistics services, and real estate rental.
Panama’s Free Trade Zones regime is a key asset for attracting foreign investment. Vice-Minister of Foreign Trade & CNFZ Chair, Astrid Abrego González, restated the country’s interest in attracting new foreign investments through this regime & others.
Image credit: Ministerio de Comercio e Industrias
Subscribe here to our monthly newsletter to stay up-to-date about Panama’s Business Landscape & follow us on LinkedIn!